CTHRepealedLegislation
Insurance (prudential standard) determination No. 3 of 2019
Material changesMaterial changes
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Material changes
- A regulated institution with approval for use of the IMB Method must advise APRA in advance of any material changes to the ECM or surrounding controls that are relevant to the RCM. APRA may require the regulated institution to make a new approval application, including independent review in the same manner as required under paragraph 14(h), in circumstances including:
(a) material changes to the model or parameters;
(b) material changes to the business of the regulated institution, e.g. material acquisitions or disposals; or
(c) such other circumstances as APRA may determine.